Thai-Saudi political, commercial, and economic ties have grown substantially in recent months. The Thai-Saudi Investment Forum was held in Bangkok to help accelerate this expansion.
The inauguration of the investment summit was presided over by Minister of Foreign Affairs Don Pramudwinai and Saudi Minister of Investment Khalid Al-Falih. Investment plans, private sector trade, investment promotion, and incentives to encourage Thai-Saudi investment were all discussed. A platform was also set up for Thai and Saudi businesspeople to undertake joint investment discussions.
At the ceremony, eight trade and investment agreements were inked. These are applicable to the food processing, building, and food and beverage industries. Around 500 Thai and Saudi companies were paired. A total of 30 billion baht in new trade value is predicted as a consequence. Because of the forum’s advances, bilateral investment is likely to treble to 10 billion baht over the following year.
The event is seen as evidence of Thailand’s preparation to host the APEC Leaders’ Meeting later this month. Thailand will also soon host Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman Al Saud on an official visit. The trip is likely to strengthen Thai-Saudi relations even further.
